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Bajaj Finance | Descending Triangle & Bear Flag observed

NSE:BAJFINANCE   BAJAJ FINANCE LTD
Bajaj Finance shows dual pattern. One is a Descending triangle pattern implying a bearish outlook and the other is a Bear flag indicating bearish continuation. Both the pattern looks valid by breaking the common price of confirmation at 3380.

Descending Triangle: Depth of pattern looks to originate from 3760 towards the base of 3380, forming a considerable 380 points. Pattern is valid as price closed below 3380. Hence, technical target would be at 3000 based on the pattern. That accounts for a fall of little more than 10% from 3380.

Bear Flag: Depth of pattern looks to originate from 3525 towards the base of 3380, forming 145 points. Pattern is valid as price closed below 3380. Technical target would be at 3235 according to this pattern. That accounts for a fall of little more than 4% from 3380.



(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
Waiting to buy around 3060
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